2min chapter

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Allison Duettmann and Mark Miller: Genetic Takeover - Cryptocommerce | Gaming the Future Ch. 6

The Foresight Institute Podcast

CHAPTER

The Social Consensus Mechanism of Expected Legitimacy

The 51% attack for proofs of work or the two-thirds plus one attack for proof of mistake is not really by itself an ability to corrupt the system. Once again, because the common knowledge of legitimacy is the ultimate form of governance, that if one party manages to gain that voting power and corrupt the system then other players can just fork and boost something else. The ultimate protection is the social consensus mechanism of expected legitimacy in anything which is obviously illegitimate on the part of a super majority.

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